Country Analysts

Felix Delgado
General Manager, Central Bank
Fernando Naranjo
Finance Minister

In The News


Click here to access the latest Macroeconomic Databank

Recent Country Insights

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Rebound – but with challenges ahead
CENTRAL AMERICA - Report 29 Nov 2021
Costa Rica’s Presidential elections will be held on February 6th, 2022. Right now there are 27 presidential candidates, none of them have the 40% of the vote, according to recent polls. Elections will gravitate around three subjects: unemployment, the cost of living and corruption in government. ...

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Recovery and corruption
CENTRAL AMERICA - Report 29 Oct 2021
Costa Rica’s economic activity continues recovering, after COVID-19’s disruptive effects. External demand is the main driver, as shown by short-term indicators. In fact, most of the dynamism comes from the export-oriented free-trade zones, while the so-called “definitive regime” lags far behind. ...

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Webinar Replay: Central America and the Caribbean
CENTRAL AMERICA - Report 29 Oct 2021
Gain insights into the issues that matter the most for the Central America and Caribbean region, focusing on El Salvador, the Dominican Republic, Costa Rica, Panama, and The Bahamas. Visit our calendar page to watch the webinar replay.

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COVID resurges, even as finances stabilize
CENTRAL AMERICA - Report 29 Sep 2021
El Salvador’s economy shows remarkable dynamism toward overcoming the economic effects of the pandemic, in H1 2022 or even earlier. In politics, understanding where El Salvador is headed continues to be a hard task. President Nayib Bukele’s political discourse normally highlights success in confr...

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El Salvador: On bitcoins and presidential re-election
CENTRAL AMERICA - In Brief 08 Sep 2021 1 response
On bitcoinsOn Tuesday El Salvador adopted bitcoins as a legal tender currency. Daily transactions such as buying groceries or paying taxes can now be made using bitcoins through a digital wallet called “Chivo” (local slang for "cool"). President Bukele confirmed that on Monday the government purc...

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Looking up
CENTRAL AMERICA - Report 27 Aug 2021
The Guatemalan economy will recover more quickly than that of other Central American countries, with a more favorable outlook for the next 18 months. The evolution of the international economy, the improvement in domestic expectations and a rational handling of economic policy will be crucial to ...

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Costa Rica: Mid-term revision of the Macroeconomic Program 2021-2022
CENTRAL AMERICA - In Brief 05 Aug 2021
The Central Bank of Costa Rica released the mid-term revision of the macroeconomic program for 2021-2022 on July 30th. Based on H1 indicators, with a better external outlook and improvement on vaccine process, the Bank concluded that economic activity will be higher than previous estimates in 202...

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El Salvador was downgraded by Moody’s
CENTRAL AMERICA - In Brief 02 Aug 2021
The rating agency Moody’s downgraded El Salvador’s bonds from Ba3 to Caa1 on July 30th, 2021, turning the country’s debt into the category of “junk bonds”. At the same time, the outlook was rated “negative”. The same grade was also granted by Moody’s in April 2017, when the government failed to p...

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Recovery under uncertainty
CENTRAL AMERICA - Report 29 Jul 2021
The Costa Rican economy showed better than expected results in H1. Faster recovery of the country’s main trading partners helped improve exports. H1 fiscal figures were also favorable. The next 18 months will be crucial. The first review of the SBA agreement with the IMF will be in October 2021, ...

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